[center]Stickied by request. Feel free to post any questions you may have. If there are any other links to detailed guides, let me know and I’ll give them an add 8)
Proof of Stake Minting - General Setup Guide
What is proof of stake minting?
I want to get involved with peercoin. I have yet to make a purchase yet as it seems difficult for me to generate proof of stake with peercoin and make more peercoins from my initial purchase. I am wondering if there is anyone I can use proof of stake with peercoin on my mac that is simple and doesn’t involve to much technical knowledge. Is that possible at this stage of peercoin?
Is it possible to buy ppc without having bitvoin?
Yes, a few of the exchanges are set up to accept USD that you can then use to buy PPC.
www.vaultofsatoshi.com is a popular one, though their volume isn’t as large as others, yet.
I’m getting:
error: couldn’t connect to server.
The bitcointalk topic tells me I need to adjust my ppcoin.conf and add server=1 and restart ppxoin-qt.
I did that but no result.
Any ideas?
Thanks in advance!
Incubusattax, can you check to see if in your [font=courier]ppcoin.conf[/font] file, you’ve got these flags uncommented and set with a value?
# Accepting incoming connections
listen=1
# Maximum number of inbound+outbound connections.
maxconnections=64
# Listen for RPC connections on this TCP port:
rpcport=9902Also, please check to see if you have any nodes manually configured to connect to. Here’s the set that Sunny recommends:
# Use as many addnode= settings as you like to connect to specific peers
addnode=66.90.146.146
addnode=91.156.102.128
addnode=110.174.124.20
addnode=67.14.164.114
addnode=37.209.40.22
addnode=50.71.216.165
addnode=109.108.236.208
addnode=173.28.37.150
addnode=68.102.86.156
addnode=213.251.187.24
addnodd=188.134.122.31
addnode=72.38.179.122This is my PPcoin.conf
[code]#ppcoin.conf
JSON-RPC options (for controlling a running ppcoind process)
#Server mode allows Qt to accept JSON-RPC commands
server=1
You must set rpcuser and rpcpassword to secure the JSON-RPC api
rpcuser=******
rpcpassword=*****
#The reserve balance field is the minimum amount of coins you want to have available and NOT put up as stake.
#The reason for this is that if you are generating proof of stake you cannot spend those coins for 520 blocks.
#reservebalance=10000
Accepting incoming connections
listen=1
Maximum number of inbound+outbound connections.
maxconnections=64
Listen for RPC connections on this TCP port:
rpcport=9902
Use as many addnode= settings as you like to connect to specific peers
addnode=66.90.146.146
addnode=91.156.102.128
addnode=110.174.124.20
addnode=67.14.164.114
addnode=37.209.40.22
addnode=50.71.216.165
addnode=109.108.236.208
addnode=173.28.37.150
addnode=68.102.86.156
addnode=213.251.187.24
addnodd=188.134.122.31
addnode=72.38.179.122[/code]
Does rpcuser and rpcpassword need an existing account of something?
You can put anything you’d like in there (it’s used by the client to communicate with the daemon, when it runs in “server=1” mode), but it [font=arial black]should not[/font] be your wallet passphrase, because it is stored in plaintext.
After you make that change (if you need to), I recommend that you restart your system just to make sure that the Peercoin daemon, [font=courier]ppcoind[/font], picks up the new changes.
After the restart, launch PPCoin-qt and if all goes as planned, it should start to download and sychronize with the blockchain. Depending on your internet connection, this may take a few minutes to a few hours.
Let me know how that goes!
Still getting error: couldn’t connect to server.
Does he try to do an outbound connection?
Maybe my firewall is blocking this?
EDIT: Think I resolved it. Didn’t know the PPCoin wallet had to be running. Started the PPCoin wallet and ran the mint.bat file. It completed without errors. Stupid me 
Awesome! Glad to hear it’s working for you.
I have done some Googling but still don’t quite understand what advantages proof of stake conveys. With scrypt’s proof of work it is more clear. Are there any “idtiots guides” to proof of stake?
Kate.
I really want to try this out but honestly, I’m just happy to have my miners running and a wallet setup at this point.
I may try to figure it out tomorrow if I get some time so I can earn a little interest on my small investment.
Excellent guide, thanks!!
Hi,
I am getting this error:
error: {“code”:-32601,“message”:“Method not found”}
Here’s my ppcoin.conf file contents:
[code]#ppcoin.conf
JSON-RPC options (for controlling a running ppcoind process)
#Server mode allows Qt to accept JSON-RPC commands
server=1
listen=1
You must set rpcuser and rpcpassword to secure the JSON-RPC api
rpcuser= “xxxxx”
rpcpassword= “yyyyyy”
#The reserve balance field is the minimum amount of coins you want to have available and NOT put up as stake.
#The reason for this is that if you are generating proof of stake you cannot spend those coins for 520 blocks.
reservebalance=200[/code]
Any clues as to what I am doing wrong? Thanks.
Not sure if anyone can help.
I’ve set up my wallet and thought I had POS running but have not received any minted coins yet. I have had 30 coins in the wallet without moving them since 6/12/2013. I was sure i would have some by now. I have run the bat file and unlocked for minting regularly over last few months but still nothing.
I can run bat file and when I mouse over ppcoin bottom right corner it says: “wallet is encrypted and unlocked for blocked minting only”
Any ideas why I am not getting any coins or what I can do to make it worK?
Thank you in advance for any suggestions.
BTW anyone know is it possible to unencrypt/remove a password from my wallet?
[quote=“peercoinstar8, post:16, topic:797”]Not sure if anyone can help.
I’ve set up my wallet and thought I had POS running but have not received any minted coins yet. I have had 30 coins in the wallet without moving them since 6/12/2013. I was sure i would have some by now. I have run the bat file and unlocked for minting regularly over last few months but still nothing.[/quote]
You might want to try this calculator tool I’ve heard about:
peercoincalculator.info
With such a low amount of coins (30), it is going to take a lot longer to mint a block, especially if you do not keep your wallet open all of the time.
For instance, on the calculator tool, in the hours field, put just 5 hours and calculate.
Now do the same thing with 5000 hours, and calculate again. You’ll get a more reasonable number.
If every one who had a small number of coins would expect to mint them in a shorter time frame, it simply wouldn’t be practical. We’d end up filling up the blockchain endlessly with massive amount of blocks, which would saturate the amount of newly minted coins (thereby lowering the rarity of the coin), and it would be counter productive to keeping the block chain small.
Your two options are:
a) Get more coins
AND/OR
b) Keep your wallet online and open longer, and more often.
The calculator is your best bet to figure out how many coins you should buy or how long you should keep your wallet minting to get a reasonable result you might be looking for…
What if i have decided not to encrypt my wallet. Do i just have to turn it on and it is already minting?
Yes. It took me a while to get the answer. First from a developer of PHS (a coin derived from Peercoin), then from Sunny King, who said if you don’t encrypt the wallet, mining is “automatic”.
For the majority of users, the best option for a Peercoin wallet is now Peerunity. It has more features than the standard client, and is also much easier to use (especially for minting).
Download it here: http://peercoin.net/download-peerunity
Read about Peerunity and FAQs: http://www.peercointalk.org/index.php?topic=2902.0
To mint using Peerunity:
Minting is now very easy. All you need to do is enable it in your client, and leave your client running with a connection to the Peercoin network. To start with, make sure you have encrypted your client with a strong passphrase that you will not lose. You will now need to get some coins in your wallet!
Then simply press the “Unlock Wallet for Minting Only” button, enter your passphrase and press OK.
You can check you are minting by looking at the little padlock in the bottom right corner of the client. It should now be unlocked. If you hover your mouse over it, it should say “Wallet is encypted and currently unlocked for block minting only”.
How long it takes you to mint a block will depend on how many coins you have. Here’s a handy tool to work out your chances: http://poscalculator.peercointalk.org/ (The current POS difficulty can be found by entering the command [font=courier]getdifficulty[/font] into the debug console of Peerunity…go to help -> debug window -> console).